Corrections in FEC+ for PIT Transactions / Exchange Fees

To

Clearing Member Firms; Back Office Managers

From

CME Clearing

#

14-075

Notice Date

18 February 2014

Effective Date

18 February 2014

As you are aware, a void or correction is allowed to occur up to four business days after the original trade has cleared through Front-End Clearing (FEC). Currently, with respect to PIT transactions, when correction functionality is leveraged through FEC+, there are no offsets of Exchanges Fees applied within the Exchange Fee System (EFS). Instead a Clearing Member Firm must submit a manual rebate request, to CME Group’s fee administration staff.

Effective February 28, 2014, the Exchange Fee System will systematically offset the Exchange Fees incurred on PIT transactions for all product exchanges (CME, CBOT, and NYMEX/COMEX) when the following FEC+ correction functionality is leveraged. Step by step details are reflected in the attached advisory notice.

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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.